24mm on the wide end, fantastic macro capability, great MF capability, and one of the best user interfaces I have experienced in any device, and much improved OOC JPG's. I am not a Panasonic fanboy (didn't care for the LX3, LX5, or GF1) but they nailed it with the LX7. IQ is not as good as the Sony RX100, but the LX7 has its own strengths and is a good compliment to the RX100 in the world of small cameras. Not sure I ever want to haul the big stuff around on vacations again.

If you don't want to spend the money on the RX100, or need the 24mm and great macro the LX7 is a great choice, especially if you can pick it up on sale - Amazon has had it for $299 several times since it's release.